Question : The intervention of the government whether to expand demand or reduce it constitutes the ________.
Option 1: stabilisation function
Option 2: redistribution function
Option 3: expenditure function
Option 4: transition function
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Correct Answer: stabilisation function
Solution : The correct answer is the stabilisation function.
The stabilisation function is any action taken by the government to raise or lower the economy's aggregate demand. Aggregate demand, which in turn depends on government and private expenditure, determines the total level of employment and prices in the economy.
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Question : In the situation of a liquidity trap, the speculative money demand function becomes ________.
Option 1: unitary elastic
Option 2: infinitely elastic
Option 3: inelastic
Option 4: zero
Question : Demand in economics means:
Option 1: aggregate demand
Option 2: market demand
Option 3: individual demand
Option 4: demand backed by purchasing power
Question : The law of demand states that when _____.
Option 1: income and price rise demand rises
Option 2: income rises demand rises
Option 3: price rises demand rises
Option 4: price falls demand rises
Question : Directions: Which one of the given responses is the meaningful order of the following? 1. Brahmaputra 2. Atlantic 3. Chilka 4. Bay of Bengal
Option 1: 2, 4, 1, 3
Option 2: 2, 4, 3, 1
Option 3: 3, 1, 4, 2
Option 4: 3, 4, 2, 1
Question : If the price of rice is raised by 25%, the percentage by which a house holder must reduce his consumption of rice so as not to increase his expenditure on rice is:
Option 1: 225%
Option 2: 25.75%
Option 3: 25%
Option 4: 20%
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